Coronavirus impact: 18 Sept – automotive testing specialist remains in good shape
The automotive sector is going through significant change and a provider of advanced testing systems covered here remains well-placed to thrive, despite the short term slowdown.
Crimson Tide: excellent results, but still very smallCrimson Tide (LON:TIDE), the provider of smart mobile working solutions, announced excellent interim results pushing it shares up sharply. For the six months ending 30 June 2020 revenue rose 40% to £1.77m with pre-tax profit up 154%, but that was only to £257k. Theses are encouraging results over a very tricky period, but after 14 years as a listed company this business has made relatively modest progress (market cap c£19m). The business model has the attraction of long term contracts offering a large degree of visibility but we question the size of the…